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Daily analysis of USD/JPY for March 30, 2018

USD/JPY

There has been a shallow pullback in the market, following the recent bullish effort on the USD/JPY. However, the bullish journey will soon resume. Which means the supply levels at 106.50 and 107.00 would be reached again, when volatility arises in the market, which would most likely favor bulls.

The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50, but that formation is being threatened by the current bearish correction in the market. There remains. A Bullish Confirmation Pattern in the 4-hour chart.